SolarWorld losses deepen as rooftop sales fail to shine

SolarWorld has this year cut 100 jobs in the US and 220 more in Germany

SolarWorld’s losses deepened dramatically in the third quarter, with chief executive Frank Asbeck pointing to Chinese rivals as the main culprits and indicating that more job cuts are on the way.

Europe’s largest producer of PV modules swallowed an operating loss of €68.7m ($87.6m) during the third quarter, compared to a loss of €11m during the same period last year.

Unlike last year, however, when SolarWorld’s third-quarter deficit was offset by gains in other quarters, the company has lost money consistently throughout 2012 – leaving it with an operating loss of €189.6m from January to September.

2012 has been “significantly negative” for SolarWorld in almost every respect, Asbeck acknowledges.

“Contrary to our expectations, there was no third-quarter upswing in the rooftop segment in…

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